Turkey may establish central custodian bank following alleged fraud at two major exchanges
Cointelegraph
Published Apr 27, 2021 03:00PM ET
Updated Apr 27, 2021 04:40PM ET
Following the arrests of several employees at Turkey-based crypto exchanges Thodex and Vebitcoin last week, government officials are reportedly planning to establish a central bank authority which could custody digital assets.
According to a Bloomberg report, an unnamed senior official in the Turkish government said local authorities may be creating a central custodian bank aimed at eliminating counterparty risk for dealing in cryptocurrencies. The same source claimed that the government was also looking at instituting a capital threshold for exchanges and requiring executives at crypto firms to have a certain foundational knowledge of digital currencies.
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Written By: Cointelegraph
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